The following partially completed process cost summary describes the May production activities of Raman Company. Its production output is sent to its warehouse for shipping. Prepare its process cost summary using the weighted-average method.
Equivalent Units of Production | Direct Materials | Direct Labor | Factory Overhead |
Units transferred out | 128,000 | 128,000 | 128,000 |
Units of ending goods in process | 10,000 | 6,000 | 6,000 |
Equivalent units of production | 138,000 | 134,000 | 134,000 |
Costs per EUP | Direct Materials | Direct Labor | Factory Overhead |
Costs of beginning goods in process | $ 37,100 | $ 1,520 | $ 3,040 |
Costs incurred this period | 715,000 | 125,780 | 251,560 |
Total costs | $752,100 | $127,300 | $254,600 |
Units in beginning goods in process |
|
| 8,000 |
Units started this period |
|
| 130,000 |
Units completed and transferred out |
|
| 128,000 |
Units in ending goods in process |
|
| 10,000 |
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